Private Party sale with sellers loan
I'm trying to figure out how this is going to work. Seller has a loan on his RV. He is selling it to me. I am not getting a loan. Before the bank who owns the loan will release the title, they will want the loan paid off. So seller has to pay off the loan but must get the money from me to do so. I don't want to give him any money (other than the deposit) until I know I will get the title.
So how do private party transactions work when the seller has a loan?
Leesburg, FL '07 American Tradition 40Z Cummins 400 ISL
Towing a '14 Honda CRV Both sold
2021 Vanleigh Beacon 41LKB 5th wheel